Gold falls for third day by Rs1,600 to Rs213,700per tola

ISLAMABAD: Gold price fell for the third straight session on Thursday in the local market by Rs1,600 per tola, following an overnight dip in prices in the international markets.
According to the data provided by All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price for one tola of 24-karat gold decreased to Rs213,700 from Rs215,300. Similarly, the price for 10 grams of 24-karat gold decreased to Rs183,213 from Rs184,585, showing a decrease of Rs1,372. Similarly, the price for 10 grams of 22-karat gold decreased to Rs167,945 from Rs169,203, coming down by Rs1,258.
Earlier, gold price in the country declined last week by Rs550 per tola. It was the second consecutive week when the prices of the yellow metal decreased in the country.
On the other hand, as of 1225 hours GMT, gold futures in the international market were available at $2,016.70 per ounce, showing an uptick of $11.40, after falling around one percent in the previous session. Out of the $11.40 increase, +$1.75 was due to weakening of the US dollar and +$9.65 was due to predominant buyers, according to the Kitco Gold Index.- TLTP